Spotify ended 2016 with 7.1m monthly active users in the UK
Spotify’s UK subsidiary has filed its financial results for 2016, offering an insight into the company’s business in that country. The streaming service’s UK revenues grew by 27% to £237m (around $311.9m) with subscriptions...
October 30, 2017
Financials reveal Shazam narrowed its losses to £3.7m in 2016
Shazam narrowed its net losses from £16.7m in 2015 to £3.7m in 2016 (around $4.9m) in a year when it said its app had more than 300 million annual active users. These details come from the company’s financial results...
October 2, 2017
MelodyVR financials reveal £2.6m loss for first half of 2017
It’s no shock that music-VR startup MelodyVR is reporting losses: the company is pre-revenue, and has yet to launch its app commercially. The British firm’s financial results are useful in showing the costs of building...
September 28, 2017
Vevo hopes for 30% growth after 2016 revenues of $500m
Vevo has been talking about the growth in its advertising business, with the music-videos service having taken in $500m in 2016. Chief sales officer Kevin McGurn told Business Insider that Vevo is expecting 30% growth...
September 11, 2017
2017 was a billion-dollar distribution year for BMI
US performance-rights organisation BMI has announced a strong set of figures for its 2017 fiscal year, which ended recently. The company generated $1.13bn of revenues, distributing just over $1.02bn to songwriters, composers...
September 8, 2017
BMG revenues and profits both up in first half of 2017
It wasn’t just Universal Music posting new financials this week. BMG (through its parent group Bertelsmann) has also revealed its latest figures, with encouraging growth in both revenues and profits. BMG generated revenues...
September 1, 2017
Streaming generated $1.3bn for major music labels in Q2 2017
The three major labels – Universal Music, Sony Music and Warner Music – saw their collective recorded-music revenue from streaming grow to just under $1.3bn in the second quarter of 2017. That represents 38.5% growth...
September 1, 2017
Snap shares fall as net losses continue to grow
Snapchat’s parent company Snap reported its latest quarterly financial results overnight, and the sight of its share-price plummeting tells you what the markets thought of the figures. The company’s revenues were up...
August 11, 2017
WMG wants ‘greater differentiation’ between free and paid streaming
Streaming may have been the driver behind eight consecutive quarters of revenue growth for Warner Music Group, which reported its latest strong financials yesterday. But CEO Steve Cooper says that WMG is keen for streaming...
August 9, 2017
Sony Music growth fuelled by streams and physical sales
Sony Music reported strong financial results for the second quarter of 2017 – its fiscal Q1 – with revenues up 18.8% year-on-year to $1.52bn. The label’s operating profit jumped by 57.6% to $225.2m in the same period....
August 2, 2017
Apple Music helps drive record quarter for Apple services
Apple published its latest quarterly financials last night and – no surprises here – it’s still making plenty of money. The company’s revenues were up 7.2% year-on-year to $45.4bn in the second quarter (Apple’s...
August 2, 2017
Pandora refocuses on ‘audience growth’ over subscriptions
Pandora reported better-than-expected financial results for the second quarter of 2017 last night, with revenues up 10% year-on-year to $376.8m. That included 25% growth in subscription revenues to $68.9m, as Pandora ended...
August 1, 2017